Exercise 2-6 From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Balance Sheet Preparation p. 63
E2-6 Simon Company at December 31, 2006.
E 2-6 From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006.
Accounts payable $ 62,500
Accounts receivable 123,000
Buildings 418,500
Owners' equity, 1/1/06 210,000
Cash 179,750
Distributions to owners during 2006 21,750
Supplies 3,750
Land 130,000
Mortgage payable 479,500
Net income for 2006 124,750
Owners' equity, 12/31/06 ?
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